HB Wealth Management LLC Trims Stock Position in Zoetis Inc. $ZTS

Key Points

• HB Wealth Management LLC significantly reduced its ownership in Zoetis Inc. by 45.2%, ending up with 17,700 shares valued at approximately $2.76 million.
• Despite some institutions trimming their positions, others like Portside Wealth Group increased their stake in Zoetis by 24.7%, indicating mixed investor sentiment towards the stock.
• Analyst ratings for Zoetis have varied, with some firms downgrading their ratings and others, such as Argus, maintaining a "buy" rating and a price target of $190.

HB Wealth Management LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 45.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,700 shares of the company's stock after selling 14,587 shares during the period. HB Wealth Management LLC's holdings in Zoetis were worth $2,760,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZTS. Portside Wealth Group LLC grew its position in shares of Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after acquiring an additional 6,672 shares during the period. Tandem Investment Advisors Inc. grew its position in shares of Zoetis by 100.3% during the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after acquiring an additional 198,089 shares during the period. Soros Capital Management LLC grew its position in shares of Zoetis by 32.0% during the 1st quarter. Soros Capital Management LLC now owns 17,441 shares of the company's stock valued at $2,872,000 after acquiring an additional 4,230 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of Zoetis by 31.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after acquiring an additional 1,760 shares during the period. Finally, Horizon Financial Services LLC acquired a new stake in shares of Zoetis during the 1st quarter valued at about $380,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZTS shares. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Argus reiterated a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Finally, Piper Sandler lifted their price objective on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.88.

Zoetis Trading Up 0.4%

ZTS stock opened at $146.87 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. Zoetis Inc. has a 12-month low of $139.34 and a 12-month high of $196.55. The stock has a market cap of $65.09 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.35 and a beta of 0.90. The business's 50-day moving average is $150.02 and its 200 day moving average is $155.39.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.

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